What does the UK competition watchdog want to investigate in its vet inquiry?

The UK’s Competition and Markets Authority (CMA) has identified initial theories that might be affecting competition in the national veterinary sector, which could be considered as part of an investigation launched in May.

“The issues statement does not set out any findings or conclusions at this early stage of the investigation – it is for the Group to determine whether there are competition concerns in the market and how best to address them,” a statement reads.

According to local media, the CMA’s Inquiry Group suggests looking into consumer decisions at different stages of veterinary purchase and the availability of the information they receive.

The CMA also wants to investigate the incentives received by veterinarians and the impact of the sector’s existing business models.

The competition watchdog expressed concerns about high pricing and competition in the industry earlier in the year.

What’s next?

The Inquiry Group will now collect information from veterinary professionals and businesses of all sizes, suppliers to those businesses, regulators and pet owners.

Under Martin Coleman’s leadership, the Group will hold hearings and roundtables, visit veterinary practices and referral hospitals and publish working papers on subsequent developments.

Consultation on the issue statement will remain open until 30 July 2024 to determine a strategy going forward. The entire investigation is expected to conclude by November 2025.